For buyers, there's snow place like the housing market in the winter.
If you're willing to handle the challenges that come with moving in slushy streets and nippy temps, you might just catch a deal that will melt away as soon as the weather — and the housing market — heats up in the spring. Here's why you should consider buying in the next few months.
Prices are typically lower, and sellers are motivated.
People who list their home in the depths of winter are usually in a time crunch to sell. With less buyer competition, you're in a good place to arrange a deal. Work with your real estate agent to determine a negotiation strategy that gets you in the door at the price you want to pay.
Everything tends to move faster.
Though things seem to lose steam when snow begins to fall, the homebuying process can accelerate. Fewer houses on the market, less buyer interest and an increase in motivation to close deals by year's end create the perfect scenario for a speedy and more tailored experience. That means you'll probably close quicker than if you buy in the primetime spring and summer months.
You can see homes at their best and how they fair in the worst.
There's nothing like a little holiday cheer to brighten everything up. Sellers will dress their homes to the nines to reel you in, which means you'll get to see just how cozy and charming your future home can be.
On the flip side, you'll be able to evaluate how the home holds up in the wintry weather. Be sure to check for drafts and temperature imbalances as well as if any ice dams are forming or have formed on the roof. Shopping in the winter allows you to learn things about the property that you wouldn't have noticed during warmer months.
If you're ready to brave the cold to find the perfect home, be sure to prepare for the homebuying process with tips from MyHome by Freddie Mac®.